Cenovus Energy (TSE:CVE) Price Target Cut to C$32.00 by Analysts at JPMorgan Chase & Co.

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its price target decreased by JPMorgan Chase & Co. from C$34.00 to C$32.00 in a report published on Friday,BayStreet.CA reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Several other equities research analysts also recently weighed in on the company. Jefferies Financial Group cut their price target on Cenovus Energy from C$32.00 to C$30.00 in a report on Thursday, January 30th. Raymond James upped their target price on shares of Cenovus Energy from C$32.00 to C$33.00 in a research note on Friday, December 13th. BMO Capital Markets decreased their price target on shares of Cenovus Energy from C$28.00 to C$25.00 in a research note on Friday, December 13th. National Bank Financial downgraded shares of Cenovus Energy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 20th. Finally, National Bankshares lowered shares of Cenovus Energy from an “outperform” rating to a “sector perform” rating and reduced their price objective for the company from C$28.00 to C$25.00 in a report on Friday, February 21st. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$29.40.

Cenovus Energy Stock Up 2.0 %

Cenovus Energy stock opened at C$15.81 on Friday. The firm has a market capitalization of C$28.80 billion, a P/E ratio of 7.79, a P/E/G ratio of 0.09 and a beta of 2.63. The stock’s fifty day simple moving average is C$19.44 and its 200-day simple moving average is C$21.25. Cenovus Energy has a twelve month low of C$14.48 and a twelve month high of C$29.65. The company has a current ratio of 1.59, a quick ratio of 1.00 and a debt-to-equity ratio of 33.59.

Cenovus Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 31st were given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.55%. The ex-dividend date was Friday, March 14th. Cenovus Energy’s dividend payout ratio (DPR) is 35.49%.

Insider Buying and Selling

In other news, Senior Officer John F. Soini acquired 5,880 shares of Cenovus Energy stock in a transaction on Wednesday, April 9th. The stock was bought at an average price of C$16.89 per share, for a total transaction of C$99,313.20. Also, Senior Officer Jeffery George Lawson bought 10,000 shares of the stock in a transaction dated Friday, February 21st. The shares were acquired at an average price of C$21.39 per share, for a total transaction of C$213,900.00. Insiders have purchased 31,934 shares of company stock worth $619,586 in the last ninety days. 32.03% of the stock is owned by corporate insiders.

About Cenovus Energy

Cenovus Energy is an integrated oil company, focused on creating value through the development of its oil sands assets. The company also engages in production of conventional crude oil, natural gas liquids, and natural gas in Alberta, Canada, with refining operations in the U.S. Net upstream production averaged 472 thousand barrels of oil equivalent per day in 2020, and the company estimates that it holds 6.7 billion boe of proven and probable reserves.